Ownership, Incentives and Monitoring

This paper studies the effect of ownership structure on workers' incentives for investing in firm-specific human capital. Particularly, we analyse such incentivers and monitoring under employee ownership and capitalist ownership. In our model, the employee-owned firm is a firm bought by its workers who pay the competitive price. Under certain conditions, we show that the workers' investment and expected income are higher and the monitoring intensity is lower in an employee-owned firm than they are in a capitalist firm. We also show that the incentive effect of employee ownership increases as a worker's reservation wage decreases, as the monitoring cost or as the productivity uncertainty increases. Most of our results are consistent with the available empirical evidenceEmployee ownership, monitoring, incentives, property rights

Computational study on microstructure evolution and magnetic property of laser additively manufactured magnetic materials

Additive manufacturing (AM) offers an unprecedented opportunity for the quick production of complex shaped parts directly from a powder precursor. But its application to functional materials in general and magnetic materials in particular is still at the very beginning. Here we present the first attempt to computationally study the microstructure evolution and magnetic properties of magnetic materials (e.g. Fe-Ni alloys) processed by selective laser melting (SLM). SLM process induced thermal history and thus the residual stress distribution in Fe-Ni alloys are calculated by finite element analysis (FEA). The evolution and distribution of the $\gamma$-Fe-Ni and FeNi$_3$ phase fractions were predicted by using the temperature information from FEA and the output from CALculation of PHAse Diagrams (CALPHAD). Based on the relation between residual stress and magnetoelastic energy, magnetic properties of SLM processed Fe-Ni alloys (magnetic coercivity, remanent magnetization, and magnetic domain structure) are examined by micromagnetic simulations. The calculated coercivity is found to be in line with the experimentally measured values of SLM-processed Fe-Ni alloys. This computation study demonstrates a feasible approach for the simulation of additively manufactured magnetic materials by integrating FEA, CALPHAD, and micromagnetics.Comment: 20 pages, 15 figure

A phase-field model of relaxor ferroelectrics based on random field theory

A mechanically coupled phase-field model is proposed for the first time to simulate the peculiar behavior of relaxor ferroelectrics. Based on the random field theory for relaxors, local random fields are introduced to characterize the effect of chemical disorder. This generic model is developed from a thermodynamic framework and the microforce theory and is implemented by a nonlinear finite element method. Simulation results show that the model can reproduce relaxor features, such as domain miniaturization, small remnant polarization and large piezoelectric response. In particular, the influence of random field strength on these features are revealed. Simulation results on domain structure and hysteresis behavior are discussed and compared with related experimental results.Comment: 8 figure